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>> they get assimilated by washington. the washington culture is than talking the language of big government, and it is a deadly, demoralizing language. echoes the demoralization of the media d the -- lou: let's raise some hell, george. let'rase some hell and get some people focused on the right things here. always great to talk to you. >> thank you. lou: george gilde much more on the fiscal cliff and the republican messaging, if you can call it that, perhaps tonight's broadcast he egyptians reolting against the brotherhood. syria apparently mixing chemical weapons. the foundation for efense of democracy joins us here in moments. the unemployment rate drops. so did the number workers in the labour force. we will be taaking about this economy and what washington is trying to do to it and us next witheter wallace and. ♪ lou: house speaker boehner says the president is slow walking our economy to the fiscal cliff. former reagan white house counsel, financial crisis inquiry coission member peter wallace will join me here in
>> they get assimilated by washington. the washington culture is than talking the language of big government, and it is a deadly, demoralizing language. echoes the demoralization of the media d the -- lou: let's raise some hell, george. let'rase some hell and get some people focused on the right things here. always great to talk to you. >> thank you. lou: george gilde much more on the fiscal cliff and the republican messaging, if you can call it that, perhaps tonight's broadcast he...
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lou: i know in washington, d.c., there is a view strongly held by many that a parallel view of the universe, although unrelated to the one in which we live if authorized by the gym and government authority therefore it is correct, it is not a view most of us living out here in america actually can support or agree with. the ambassador is likely to be the next national security advisor to the president, she will remain on his, if you will, a teamclose. who is next? >> the next surgery state has to have a good understanding of the region, of all regions from north korea toin libya. with what is happening now in egypt, the earthquake that will begin as of tomorrow with theaso passing of a referendum with the civil war in syria and the unsettled business between gaza and israel with the possibility in the next year or so iran will tell us they're nuclear now, the next has to oneat that is welly educated in what is happening otherwise we will end up with muchween bigger benghazi proble. lou: imagine the constitutional referendum tomorrow. it will take some time for that to fully develop with sup
lou: i know in washington, d.c., there is a view strongly held by many that a parallel view of the universe, although unrelated to the one in which we live if authorized by the gym and government authority therefore it is correct, it is not a view most of us living out here in america actually can support or agree with. the ambassador is likely to be the next national security advisor to the president, she will remain on his, if you will, a teamclose. who is next? >> the next surgery...
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the american people want to compromise an make washington work. he said it again and put out a specific offer. all we have heard from the president is a hard-line wasno negotiation on the tax side and not e word about the entitlement reforms that would have to match that for this plan to make any sense. and it is that absence of lead on the spending side nd unwillingness to make compromises that will actually get als done and have washington auction again that i think our marks aginst this lame-duck session. lou: you have projected, the action form has projected 10 million prospect of possibly 10 million people losing jobs, 10 percent unemployment. a 4% reduction in gdp if we go over that cliff. correct? >> that is absolutely right. i mean, this is a big tax increase. 's a big spending cut. more importantly, if you look at the debt ceiling debate, we saw a sharp drop in conser confidence and we saw hat today in te december number. a sharp drop in consumer confiden, and you also will see a big financial market disruption. those are genie's you cann
the american people want to compromise an make washington work. he said it again and put out a specific offer. all we have heard from the president is a hard-line wasno negotiation on the tax side and not e word about the entitlement reforms that would have to match that for this plan to make any sense. and it is that absence of lead on the spending side nd unwillingness to make compromises that will actually get als done and have washington auction again that i think our marks aginst this...
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so is the market's portion of politicians in washington. that could be one way you may get a deal sooner than later. lou: i don't know which way to cross my fingers for in that deal. thank you for being here. we appreciated. up next, one of syria's biggest supporters committing te murders rain is a an end. straight ahead, we have had our differences with the epa. well, we are not here to tell you that we have back catch them all up. the latest power grab a cpa in charge of mother nature, and it could force you and other taxpayers to simply forfeid your home. our report next. ♪ americans are always ready to work hard for a better future. sincemeriprise financial was founded back in894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ ♪ lou: more red tape. the associated press
so is the market's portion of politicians in washington. that could be one way you may get a deal sooner than later. lou: i don't know which way to cross my fingers for in that deal. thank you for being here. we appreciated. up next, one of syria's biggest supporters committing te murders rain is a an end. straight ahead, we have had our differences with the epa. well, we are not here to tell you that we have back catch them all up. the latest power grab a cpa in charge of mother nature, and it...
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Dec 26, 2012
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what would you put the odds at that busy rationality and effectiveness reemerge from washington, d.c., on the fiscal cliff? >> zero. lou: i thought that. >> if we can keep the current tax rates, we would continue to increase government revenue. increasing 26% under the bush tax rates over the last two years. over the last two years, government revenues have risen 26%, almost a quarter using the buss tax rates. low tax rates bring more revenues, not less venues. lou: do you interpret all of the drama to be a lack of faith? in front of the growth model that has been demonstrated, as you point out, over the past two years. they are really saying the economy cannot grow fast enough to support the government. we will not see revenue increase unless we raise taxes. >> that is correct. the pre-verse thing is you don't get growth if you raise tax rates. in california and several other states that topate is approaching 50% effectively with a 50% top rate, a business have as much incentive to fire somebody to lower-cost as to hire somebody to increase revenues. lou: it is a high risk experiment
what would you put the odds at that busy rationality and effectiveness reemerge from washington, d.c., on the fiscal cliff? >> zero. lou: i thought that. >> if we can keep the current tax rates, we would continue to increase government revenue. increasing 26% under the bush tax rates over the last two years. over the last two years, government revenues have risen 26%, almost a quarter using the buss tax rates. low tax rates bring more revenues, not less venues. lou: do you interpret...
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so is the market's portion of politicians in washington. that could be one way you may get a deal sooner than later. lou: i don't know which way to cross my fingers for in that deal. thank you for being here. we appreciated. up next, one of syria's biggest supporters committing the murders rain is at an end. straight ahead, we have had our differences with the epa. well, we are not here to tell you that we have back catch them all up. the latest power grab a cpa in charge of mother nature, and it could force you and other taxpayers to simply forfeited your home. our report next. ♪ ♪ lou: more red tape. the associated press reported the obama administration is quietly rolling out dozens of major new regulations now that the election and campaign scrutiny is over as if it were ever very, well, powerful. covering everything from greenhouse gas emissions to oil drilling to wall street. one of the more controversy regulations requiring all new cars to have black boxes beginning in 2014. supporters say those data recorders we will help determ
so is the market's portion of politicians in washington. that could be one way you may get a deal sooner than later. lou: i don't know which way to cross my fingers for in that deal. thank you for being here. we appreciated. up next, one of syria's biggest supporters committing the murders rain is at an end. straight ahead, we have had our differences with the epa. well, we are not here to tell you that we have back catch them all up. the latest power grab a cpa in charge of mother nature, and...
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lou: a big surprise today in washington. senator jim demint of south carolina announcing he will resign his senate seat? january to take over the leadership of the think tank, the conservative think tank, the heritage foundation. earlier, the snator criticized boehner's proposal saying, quote, would destroy american jobs and not reduce the debt a penny. joining me to talk about the senator's resignation, his outlook on the cliff, and a host of other issues, delighted to be joined by south carolina lawmaker congressman trey, and congressman, great to have you with us. let me begin with the fiscal cliff. as i discussed with steven and our editor, chris, i have not heard a single republican say of the president's ultimatum, you know, that's the cause of the cliff, not the facthat we department yield to that ultimatum. why in the world aren't republicans talking about the president's ultimatum is -- as thee causal agent of any plunge over the fiscal cliff? >> wel lu, this are a few. jim jordan, demint, we don't have a megaphone
lou: a big surprise today in washington. senator jim demint of south carolina announcing he will resign his senate seat? january to take over the leadership of the think tank, the conservative think tank, the heritage foundation. earlier, the snator criticized boehner's proposal saying, quote, would destroy american jobs and not reduce the debt a penny. joining me to talk about the senator's resignation, his outlook on the cliff, and a host of other issues, delighted to be joined by south...
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some considerable concern being expressed now in washington d.c. you're about -- your thoughts? >> i cannot possibly see what good can come of sending f-16s and tanks to egypt. i don't think -- i don't understand it. it should be held back. what used to they have, especially in a time when the troops of been ordered to arrest civilians? it just doesn't make any sense to me. lou: the former national director of intelligence, and director of national intelligence saying here last night that he thinks it's important because its engagement , and engagement is positive in and of itself. your thoughts? >> engagement with people who seek, i again, destruction is not positive. especially when it's not just engagement callaloo. this is legitimization. this is in richmond. we are now being told this is going to be charming. certainly empower and probably involving these guys, and no good can come on that. it's folly, and i think we're seeing in libya and egypt and tunisia and yemen, probably syria. lou: 15 seconds. very quickly. we just received word that the president is recognizing that
some considerable concern being expressed now in washington d.c. you're about -- your thoughts? >> i cannot possibly see what good can come of sending f-16s and tanks to egypt. i don't think -- i don't understand it. it should be held back. what used to they have, especially in a time when the troops of been ordered to arrest civilians? it just doesn't make any sense to me. lou: the former national director of intelligence, and director of national intelligence saying here last night that...
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the washington institute for near east policy. gentlemen, thank you for being here. beginning with you, just received word that the president smoke with morsi today talking about the number of deaths and concern about the result of the demonstrations. this is now a region that seems to be of behaving in ways in which this administration could not have anticipated or did not a year ago, six months ago. your thoughts on what's happening now? >> well, ii's happening right now is a balance of force, of demonstrations between the morsi regime, which is still trying to assert itself, the gun to influence the army, but did not complete the job, so the army is not completely under the hands of morsi, but, on the other hand, a dynamic opposition uniting against morsi and has been early on the responsible for the uprising in egypt against mubarak, replaced with the brotherhood, and bottom line, lou, is now the obama administration realizes that a partnership with the muslim brotherhood and morsi will not do. there has to be a triangle agree
the washington institute for near east policy. gentlemen, thank you for being here. beginning with you, just received word that the president smoke with morsi today talking about the number of deaths and concern about the result of the demonstrations. this is now a region that seems to be of behaving in ways in which this administration could not have anticipated or did not a year ago, six months ago. your thoughts on what's happening now? >> well, ii's happening right now is a balance of...
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>> i don't know if we're going to see that sense of brotherhood or sisterhood any time soon in washington. i'm still convinced they are not going to come to an agreement on the fiscal cliff unless compelled to do so by an adverse external event like a sharply lower equity market. lou: and is, you know, i can't imagine a market ever going down as john is suggesting here simply because a government chooses not to function. >> well, if it means we're headed into recession, the markets will react. in a typical bear market, stocks sell off by 20%. it's great to have a compromise before the year end, but time is running out. it's not possible. lou: how is it that a treasury secretary responsible for the integrity of the markets, the currency, responsible, indeed, for the financial system of this country, largely, broadly, and internationally, would sink to the level of a political operative making statements about we're going over the fiscal cliff and we're ready to go. >> the president put him in charge of the negotiations from his point of view. lou: clever. >> he's wearing two hats at this p
>> i don't know if we're going to see that sense of brotherhood or sisterhood any time soon in washington. i'm still convinced they are not going to come to an agreement on the fiscal cliff unless compelled to do so by an adverse external event like a sharply lower equity market. lou: and is, you know, i can't imagine a market ever going down as john is suggesting here simply because a government chooses not to function. >> well, if it means we're headed into recession, the markets...